Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.

Rise in gas prices could cost households $2,000

American consumers are grappling with the worst inflation in four decades, and more economic pain could be coming.

A recent analyst note from Yardeni Research estimated that a recent spike in gas prices triggered by the Russian invasion of Ukraine could add up to $2,000 in annual costs to the typical household budget.

That’s on top of another $1,000 in additional costs for food.

Ukraine using facial recognition to ID Russian soldiers

Ukraine is using facial recognition technology to identify dead Russian soldiers and inform their families.

Ukraine’s vice prime minister said the information is being used to compare to photos on the web and ID the soldiers.

Controversial startup Clearview AI is providing the facial recognition technology.

Apple preparing hardware subscription service

Apple is preparing a hardware subscription service for iPhones that could launch as soon as the end of the year.

Bloomberg reports the service would allow customers to buy an iPhone through monthly payments, similar to how users currently subscribe to iCloud.

U.S. House to vote on marijuana bill

The U.S. House of Representatives will reportedly vote next week on the Marijuana Opportunity, Reinvestment and Expungement Act.

If enacted, the bill would remove cannabis from the list of federally controlled substances.

The legalization of marijuana is an issue that has generated bipartisan support, and while chances are good a bill would pass the House and Senate, there is uncertainty as to whether President Joe Biden would sign it.